Envestnet Asset Management Inc. Acquires 90090 Shares of Monster Beverage Co. (NASDAQ:MNST) - Defense World

Envestnet Asset Management Inc. boosted its holdings in shares of Monster Beverage Co. (NASDAQ:MNST – Free Report) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,920,558 shares of the company’s stock after purchasing an additional 90,090 shares during the quarter. Envestnet Asset Management Inc. owned about 0.18% of Monster Beverage worth $110,643,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. boosted its position in shares of Monster Beverage by 7.2% during the third quarter. Atria Wealth Solutions Inc. now owns 22,521 shares of the company’s stock worth $1,192,000 after acquiring an additional 1,521 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Monster Beverage by 3.4% during the 3rd quarter. Van ECK Associates Corp now owns 107,096 shares of the company’s stock valued at $5,671,000 after purchasing an additional 3,567 shares during the last quarter. Pathstone Family Office LLC grew its position in shares of Monster Beverage by 75.9% during the third quarter. Pathstone Family Office LLC now owns 56,946 shares of the company’s stock valued at $3,016,000 after purchasing an additional 24,577 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Monster Beverage by 132.8% in the third quarter. HighTower Advisors LLC now owns 245,467 shares of the company’s stock worth $12,980,000 after purchasing an additional 140,029 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Monster Beverage in the third quarter worth about $31,000. 72.36% of the stock is owned by hedge funds and other institutional investors.

Monster Beverage Price Performance

MNST stock opened at $52.69 on Friday. Monster Beverage Co. has a 12 month low of $47.13 and a 12 month high of $61.22. The firm’s 50-day moving average is $53.95 and its 200 day moving average is $55.86. The company has a market capitalization of $54.89 billion, a PE ratio of 33.14, a P/E/G ratio of 2.21 and a beta of 0.76.

Monster Beverage (NASDAQ:MNST – Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Monster Beverage had a return on equity of 20.74% and a net margin of 22.83%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. Sell-side analysts forecast that Monster Beverage Co. will post 1.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on MNST shares. Royal Bank of Canada lifted their price objective on Monster Beverage from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Redburn Atlantic began coverage on shares of Monster Beverage in a research note on Wednesday, March 6th. They set a “buy” rating on the stock. HSBC lowered their price objective on shares of Monster Beverage from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. Truist Financial downgraded shares of Monster Beverage from a “buy” rating to a “sell” rating and reduced their target price for the stock from $65.00 to $46.00 in a report on Thursday, April 25th. Finally, Morgan Stanley decreased their target price on shares of Monster Beverage from $68.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Monster Beverage currently has an average rating of “Moderate Buy” and an average price target of $61.32.

Get Our Latest Stock Report on Monster Beverage

Monster Beverage Profile

(Free Report)

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.